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Treasury Prices Rally
As Investors Seek Safety

By

Sonoko Setaishi Dow Jones Newswires

Updated Jan. 28, 2000 6:36 p.m. ET

NEW YORK -- U.S. Treasury bonds reversed large losses to end sharply higher Friday, as massive unwinding of positions in other financial markets and an equity market sell-off left investors fleeing to the safety of government bonds.

Although flight-to-quality buying typically helps shorter-dated Treasurys, Friday's gains were once again led by the 30-year Treasury bonds, which drew strength from shrinking supply and hedge fund buying...